SpaceX Bankers Prepare $20B Bond Sale — First Investment-Grade Dollar Offering — to Refinance xAI Bridge Loan

SpaceX is preparing to issue at least $20 billion in investment-grade dollar bonds — its first such offering — with Bank of America, Citigroup, JPMorgan, Goldman Sachs, and Morgan Stanley set to begin investor meetings as soon as next week. The proceeds will refinance a $20 billion bridge loan SpaceX took on after acquiring Elon Musk's AI startup xAI in February 2026. The deal underscores the enormous capital appetite tied to SpaceX's post-IPO AI infrastructure expansion into data centers, compute hardware, and power.